EUR/JPY trades just +3 pips at Y119.87;....>

EURO-YEN: EUR/JPY trades just +3 pips at Y119.87; little to move the needle in

Asia, which kept U.S.-China trade matters in focus.

- As a recap, the rate sold off Friday after a round of flash EZ PMI data.

Although beats in German and French m'fing figures briefly boosted the pair,

gains were shed as EZ comp PMI printed only marginally above the 50 level.

- Bears look for a break under the Y119.61 50-DMA, which limited losses today.

Below opens the 100-DMA at Y119.41, followed by the mid-point of the Oct rally

ay Y119.28. Bullish attention has been captured by the recent 50-/100-DMA

bullish cross. The initial topside target is provided by the Y120.00 mark.

- In EZ news: Germany's ruling CDU leader Kramp-Karrenbauer appeared to have

diffused a mounting rebellion as she threatened to quit unless the party rallies

behind her. Italian PM Conte told La Repubblica that he doesn't expect a gov't

crisis in January after the budget is approved in parliament. ECB's Lane said

that the Bank's policies are "under the most likely scenario ... in good shape."

- As we are heading towards the European session, EZ focus turns to German Ifo

survey and comments from a number of ECB speakers.